Just as the European traders are getting back from their lunch breaks, the U.S. session resumes at 8:00 am EST with traders opening for business.
The U.S. session, like the Asia and Europe sessions, has it’s one major financial hub and traders always have their focus on that place; New York City!
Below is a table of the New York session pip ranges of the major currency pairs.
These pip values were derived based on the averages of past data. Take note that these values are not constant values and can change depending on liquidity and other market conditions.
Also, the session range for EUR/CHF has not been included since the Swiss franc has been pegged to the euro at 1.2000 during the period.
Here are some facts you should note about trading during the New York session:
Which Pairs Should You Trade?
Note that liquidity is normally on the rise because both the U.S. and European markets will be open simultaneously.
This allows you to trade almost any pair, although it is advised that you focus on the major and minor pairs and avoid the unusual ones.
Also, note that having the U.S. dollar on the other side of the majority of transactions means participants will be focused on U.S. economics reports.
Whatever these reports turn out to be could dramatically change the course of events in the markets resulting in the easy fluctuation of the dollar.
If you’re unsure about when each session commences, you should check out our next lesson!